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Why 308,127,404 Americans are going to get hosed

January 11, 2012
Santiago, Chile

Last week, the US government’s Financial Crimes Enforcement Network (FinCEN), an agency of the US Treasury Department, published its 2011 annual report. There are a few numbers that are pretty startling.

We’ve discussed before that FinCEN is the executive agency tasked with ensuring that every US banker is an unpaid government spy through Suspicious Activity Reports.

A Suspicious Activity Report, or SAR, includes details of any transaction that may be deemed ‘suspicious’. Naturally, there’s no clear guidance on what is/is not considered suspicious. Banks, brokerages, money service businesses, precious metals dealers… even casinos are required by law to fill them out.

If you withdraw an unusual amount of cash from your bank account, that could be deemed suspicious. If you set up a new payee in your billpay service, that could be deemed suspicious. Anything and everything is fair game.

Banks and other businesses who do not fill out SARs face hefty penalties, including imprisonment. If they disclose to a customer that s/he is the subject of a SAR, they have hefty penalties, including imprisonment.

When push comes to shove and they have to choose between a nasty penalty, or submitting a SAR about your unusual cash withdrawal, which option do you think they’ll pick?

Unsurprisingly, nearly 1.5 million ‘suspicious activity reports’ were filed across the US banking system in 2011, well over twice the number reported in 2004. On top of this, there were an additional -14.8 million- ‘currency transaction reports’ filed in 2011, a 6% jump over last year.

It’s an unfortunate trend which highlights not only the end of financial privacy, but also the massive amount of data being collected by the government to keep tabs on its citizens.

According to this year’s report, a full 36 distinct federal law enforcement agencies requested information from FinCEN (and even more who haven’t). Three dozen. And that doesn’t include state or local law enforcement.

That there are this many federal law enforcement agencies to begin with is mind-boggling… let alone the thought that some knucklehead at the Fish and Wildlife Service has access to bank records.

This is one reason why international diversification is so important– the likelihood of such collection and monitoring is greatly reduced when you bank overseas. Moreover, should one of these dozens of agencies or courts decide that your ‘suspicious activity’ warrants locking you out of your accounts, they have zero jurisdiction overseas.

This is a common tactic in the US; financial activity is one of the many, many areas with a ‘guilty until proven innocent’ burden of proof. You don’t even need to be doing anything wrong (which is the case most of the time this happens) for one of these agencies to freeze your account ‘pending investigation’ with a simple phone call. Good luck getting it unfrozen.

They don’t have that kind of pull overseas. That’s why we’ve been writing for years to more than 100,000 subscribers that the most important thing you can do for your financial security is to have a foreign bank account, no matter where you’re from. Planting a ‘banking flag’ outside of your home country is a very prudent, simple insurance policy.

More and more people are starting to wake up to this reality. FinCEN also tracks the Report of Foreign Bank Account and Financial Accounts, commonly known as the FBAR. This form is required to be submitted by any US taxpayer with foreign financial accounts whose aggregate total exceeded $10,000 at any point during the year.

For example, if you have a bank account in Uruguay with $9,000, and a small brokerage account in Panama with $2,000, you would have to submit the form by June 30th of each year to the Treasury Department.

In 2011, 618,134 US taxpayers filed an FBAR (which would have covered the calendar year 2010). This is more than a 100% increase over the filings just two years ago… a huge jump. I suspect the 2012 figures will show similar growth.

As a percentage of the population, though, the number is embryonic. It still leaves 308,127,404 Americans who have no backup plan, no insurance policy for their hard-earned savings. In other words, 99.8% of the population holds all of their money in an insolvent, corrupted, government-controlled, unsecured (though cleverly disguised) banking system.

Are you one of the 0.2% who is paying attention? If not, what’s holding you back? I’d like to know.

Our goal is simple: To help you achieve personal liberty and financial prosperity no matter what happens.

If you liked this post, please click the box below. You can watch a compelling video you’ll find very interesting.

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Just think about this for a couple of minutes. What if the U.S. Dollar wasn’t the world’s reserve currency? Ponder that… what if…

Empires Rise, they peak, they decline, they collapse, this is the cycle of history.

This historical pattern has formed and is already underway in many parts of the world, including the United States.

Don’t be one of the millions of people who gets their savings, retirement, and investments wiped out.

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About the author: Simon Black is an international investor, entrepreneur, permanent traveler, free man, and founder of Sovereign Man. His free daily e-letter and crash course is about using the experiences from his life and travels to help you achieve more freedom.

Comments on this entry are closed.

  • Janice Harbin

    The reason I am in the ladder percent is because I do not have a savings account, no IRA, no portfolio, no money to be stolen from me.

  • realestatepup

    Simon, it’s always chilling to read the newest tactics of our government. Although my husband and I do not have means to move very much out of the country, we still plan to do so fairly soon. However, I would like to piont out the silver lining for the rest of the population. It might not seem like one, but I believe it will be. Governments that become totalitarian, socialist, and oppressive in nature eventually fall. They cannot protect themselves from the masses forever. For now, most Americans are still the frog in the pot, they do not feel the rising heat. But soon, the temperature will be too hot to ignore, and when their mindless “creature comforts” are gone or severly curtailed, they cannot show up at the local store and just buy whatever food items they want, when gas is rationed or just too expensive, when the internet is subject to governmental blackouts in the name of “terrorism”, when goods and services cannot be purchased in US dollars on our own soil, THEN people will say “ENOUGH!!!” It will take a majority of the population to put a stop to the ongoing corruption and thuggery. Our only hope is perhaps getting Dr Paul elected.

    • Nitrider_ninja

      Stop dreaming. Dr. Paul will not win. It’s called vote rigging. Yes, the govt will eventually fall. The question is do you want to fall with it? Will you survive the upheaval? what makes your so sure? What makes you so special?

      • Mn

         Many will have to fall with it.

  • sunflower

    Whats holding me back: My networth is in stuff – property, equipment, groceries.  

    • Gene

      Heh I know that feeling! The great news is that once you start living this life (I’m a digital nomad), you WILL stop buying STUFF. Can’t fit a 50″ flat panel in a carry-on bag, and the thing wouldn’t do me any good sitting in a storage unit, so no use in buying it. Once you think that way (this sovereign world we are creating is ALL about controlling your own thinking and assumptions) it will extend to everything..no need to buy any of these in the US: car, house, bread machine, gym membership… Because once you start making the transition, STUFF becomes pointless.

  • Ronny

    i am hearing conflicting reports on the overseas bank account thing.  2 years ago when the US squeezed switzerland (once a safe financial harbour) to cough up its american customers, it seems like now the US governments reach is in EVERY country.  if the US government has zero jurisdiction on citizens assets overseas, as you mention in your article, why then are we required to fill out a form informing the government as to our overseas accounts ?? 

    • http://realfilling.com/ the99th

      There’s a thick line between filing an FBAR once a year and potentially having deposits frozen. You still file with the IRS and pay them what-for, but you have a foot on sturdier ground. 

  • Brian

    I haven’t banked outside Canada yet but going to real soon  Is Canada becoming similarly draconian to your knowledge and how much of your info is as useful to a Canadian

  • Ccorby

    I am one of the 0.2%. :-)

  • Timghirardelli

    What’s holding me back?…I’ll tell you!  I’m already feeling hosed!  In the last few years, Divorce, a couple investments gone bad, and sour business environment decimated my accounts.  I’ve got skills in Real Estate, Stocks, sales, writing, consulting, and I’m far from lazy.  I’m ready to ‘bug-out’ to Ecuador, Chile, or Uruguay with my hot Bulgarian GF and do…something! but hell, lets face it, it takes money and I’ve been stripped.

    • http://realfilling.com/ the99th

      Network in those places and figure out a way to generate cashflow – given your skill-set it sounds like you could do well serving people with more money than you who want to do something similar. Resilient Community RE is probably a big opportunity in the countries you mentioned, you don’t need a development budget, just a process for helping people deploy.

      • Gene

        ^Exactly! Notice the posts here. The ones who are actually living this sovereign life are quite positive about it, and those who have no experience with it are dripping with negativity.

  • Kuching

    Yes – acts in both Singapore and Hong Kong

  • Mark

    I do not have any savings and lack sufficient income to get one started offshore since I do not have the minimum requirement. I have been on the wrong side of the IRS for over 10 years and they do not allow me any mercy.

    • IcePyro

      Mark, I help people with IRS problems for a living. I’m not trying to be a jerk, but “mercy” is not the job of the IRS, and if you’ve been on their “wrong side” for 10 years, then that’s entirely your own fault. You can whine all you want about how unfair the tax system is, blah blah blah, but if you want the IRS off your back, it is up to you to take the actions necessary for that to happen, and those actions (whether you politically agree with them or not) are quite simple.

    • Gene

      IRS is nothing but terrorists. If you are being hounded by the IRS, do what Sorta Expat says of course, but if that’s not possible then you probably want to immediately leave the US. You NEED a foreign account. FEDGOV is not your friend, as you no doubt have discovered by now.

  • MyklM

    Hello Simon. It has taken me longer that I expected to arrange my move out of the US. By the end of January, I will have my Canadian money sent to my Chilean account. Soon after that I hope to meet you and invite you for an authentic Vietnamese meal in Santiago. I strongly suggest people get this done ASAP, because it takes longer to get things done, especially if the gate is shutting as you do the paperwork. BTW, I don’t have much money, but I’ll need it to start again in Chile. Montana-Mykl

  • Jimwrkdiver

    Personal money is tight, I’m still paying on my house, and I really need to switch my Roth to a “checkbook” type so I can invest that money overseas. Let’s face it, I really can’t move any significant amount of money to a foreign account, how the Heck would I pay my bills?
    Life goes on.

  • Jeannieprintz

    Just trying to figure out where to open it.
    Jeannie Printz

  • aka

    Based on all that you have written, I don’t see the solution. Maybe I’m dense. Looks to me like regardless of what country and banking system is picked, the required reporting puts me under even more scrutiny. Sorry… don’t get it.

  • Theotherplan

    Excellent report!

  • Deb

    I get it and am awake but my husband is semi-awake but still not on board with getting most of what we have left out of the dollar.  I buy some PM’s a little at a time to at least have something, and have some food and preparing the best I can.  How can I convince him? I can’t fight him too! We were in stocks and got hurt like everyone else and got out of them. I don’t think he trusts anyone now.  I pray we will all come through it and be able to help like minded people and stay safe in a group if it gets to bad. I have faith that the lord will help when we need it. He has always been there. God be with you all and stay safe where ever you are.     

  • Thomas

    I don’t know where or how to get started. I have little savings as it is. Where do I start?

    • Gene

      1) do you have a passport?
      2) have you ever traveled outside the US? and no, mexico/canada/bahamas don’t count.

  • http://pulse.yahoo.com/_XO7YATMSMR53NCZSAG4KAI5ZFY Jon

    I think what holds a lot of people back is getting the cash to open an account.  Seems like you need several thousand dollars that you can deposit and forget about for a while.  Unfortunately, that’s not an option for a lot of people.

    One thing I’ve realized after reading Simon’s white paper about the Six Pillars of Self Reliance, is that being internationalized depends significantly on achieving Economic Independence with other streams of income besides your job (Pillar #4).

    Without a lot of free cash:

    How can you buy property overseas (mortgages aren’t an option)?
    How can you open foreign bank accounts (minimum deposits)?
    How can you afford flights to Hong Kong, etc?
    How can you afford a second passport (flights/hotel/fees)?

    The other pillars of self-reliance aren’t really achievable without this one.

    That’s why all my efforts right now are trying to create income that doesn’t depend on my job. Without that, it seems like I’ll be stuck in the USSA….

  • Bruce Grobman

    Simon, Isn’t this .2%, the FBAR filers, putting themselves directly in the cross-hairs of gummint paranoia simply by expatriating their funds? Isn’t doing so pretty much tantamount to making one a suspected “enemy of the state”?

    • $10039200

      Most FBAR filers are Americans living and working overseas.

  • Anonymous

    Honestly, the reason my partner and I don’t open an account overseas is because we don’t have any savings. We’re basically living month to month. His clients don’t have as much work and we just don’t have extra.

  • KJQ

    My wife and I are in our 50’s and have no savings. We have twin teenaged boys and we live check-to-check. We’ve managed to scrape together enough to prepare to support ourselves for up to 3 months, but there’s nothing more we can afford. We have no luxuries in our budget. I haven’t had a raise in 6 years and there are no better job prospects. At least I don’t have to worry about any investments being lost.

    • Gene

      ..So in other words you have nothing to lose by leaving the US. When the boys are grown, sell what you have, move to south korea, get a TEFL, and teach English. If you don’t have a plan, then why bother reading sites like this in the first place?

  • Tigg

    One concern is that being part of that 0.2% may raise more suspension and put me and you on radars that we previously were off…  Personally right now I hold physical gold/silver, paid for in cash and bought private party…

  • PeterD

    Hi Simon,
    Can you comment on how the Chilean UAF is different from our FinCEN? It is also part of the Egmont Group that centralizes such anti-laundering, anti-terrorism financial reporting around the world. I’m concerned because I am thinking of following your advice to move a small amount of funds out of the USA, but what if the foreign country is really not much better? For example, you’ve already reported on Argentina’s latest capital controls and similar measures. Not too many years ago, Chile had a right-wing dictatorship. I know little about the regime then or now, but it seems to me therefore anything is feasible to occur in Chile at any time! How would you address my concerns?

  • hunda44

    Frankly what is holding me back is the likelyhood that whatever country I place money in could be equally or more corrupt with stealth laws allowing for the taking of my money even if I possess a passport. I doubt options notwithstanding the Swiss perhaps, are safe.  

    • Gene

      If you are from US, Switz is the LAST place to go.

  • http://pulse.yahoo.com/_EBIQ3MVHJTM46GX7BEAY6XV75U Jan Schultz

    I don’t trust the US government much, but I trust other countries even less. We don’t have that much in the bank anyway.
    Regardless of what happens, we’ll be able to survive because we were raised and still live with the self-reliant lifestyle that most people abandoned in the last generation.
    I appreciate your global insights and enjoy your emails which have helped me realize I have nothing to fear because we’re far, far ahead of the rest of you in survival skills.

  • Attiladoc

    Have all of your off shore recommended items……now working on WTSHTF/immediate escape plan. Want to have in place by end of ’12…………………

  • MCI

    Like most that have posted so far… no substantial liquid money to work with and things always be much more difficult than outlined. Hey, can you set up an easy investment plan to be a part of your farm? I’d gladly pull my 401k installments and redirect!

  • Anonymous

    I would love to say that I’ve accomplished something to begin the process of getting out…  Unfortunately, I have too much debt and not really any savings.  My husband and I are gainfully employed, but it seems that every month our paychecks go to post-wedding credit card debt and the regular bills, and there isn’t anything left over.  Additionally, we are in a difficult position as I have a child from a previous relationship, and the custody agreement would require a new order from the Court if I were to move with my child out of the state, let alone the country.  I feel VERY strongly that now is the time to act, and there won’t always be the opportunity to do so, but (similarly to Deb, below) my husband does not share my convictions.  He sees that things as they are now are flawed horribly, but he does not see the need to take any action.  He has been trained to believe that things always work out, and I suppose he’s probably a happier person than I am for it, but it is infinitely frustrating to feel as if I am alone in planning our future.  If you have any suggestions on what actions to take with regard to my custody situation, I would be extremely interested to hear them!

    • anonymous

      I can relate to your situation.  Ive been trying to get my husband on board to invest in precious metals for 30 years.  He is more of a 401k/IRA motivated investor that enjoys the stock market.  I tend to be more of a fixed rate investor, but my heart has always been to invest in gold and silver.  Recently I joined The Elevation Group and have had the opportunity to share with my husband solid information about stepping out of the box and seeing the big picture.  He has totally turned around and we are cashing in our stocks, IRA and 401k.  We suffered a small hit with him out of work for 2 1/2 years and cashing in 1/2 our IRA to lower our debt ratio.  We’ve learned a great deal about our financial situation and I recommend that everyone take a look at what The Elevation Group has to offer /

  • Keith Leblanc

    I completely agree with everything you are saying. I would love to leave my job and go live in Equador or Peru. But I make 70K a year and lost a lot of my retirement at Enron. I would also love to subscribe to the 4 pillar system and invest what little I have in it, but $900 is a lot of money for me to dole out for financial advice. I have tried a few businesses that failed and I’m not ready to reinvest in another venture yet. If I win the powerball or any one of the stocks I own suddenly soars, I will be on the next plane to paradise for good (while using the 4 pillar system to increase my wealth).

  • GuestD

    It would be great to get cash overseas, but that requires cash to begin with.  Or Simon, do you think it is actually worthwhile to go through the motions to put, say, 5000 into a foreign account?  That’s probably all I could get together…

    • Gene

      You can still do it in your situation…but for you’d I’d recommend finding a bank where you can do online banking. This way you can send money to that account as you earn it. The problem of course is that by doing this you are creating a paper trail. But you can break that trail later when the time comes.

  • Dwaltzer65

    I have 2 kids in college. What am I supposed to do with them? I can’t just pick up and go right now. I am scared for their future more than mine right now

    • http://realfilling.com/ the99th

      You should encourage them to drop out of school and go learn how to make it in the real world, it’ll cost a lot less and has a higher probability of getting them a 25-50k/year income. 

  • Tyler

    Simon, what is the best jurisdiction to open an account in if you only have a few thousand $’s WITHOUT having to do it in person?

    • Alain Fleury

      Check my comment under the name “Alain”

  • Person

    I have little faith in any bank that my money is going to be safe, U.S. or otherwise. I have about 10K that I would/could send overseas but I can’t decide if it’s worth it. All these suggestions are great, passports, living overseas, foreign banks/brokerages, but how practical is it for someone that does not have 6 figure incomes, accounts, businesses?

    All I can do is buy gold/silver, guns and hoard food and water. I’ll protect what wealth I have and further protect my hoard and wealth from social chaos with guns and bullets.

    Being free these days apparently requires a lot of money.

  • SheepDogOne

    Just an FYI to all thinking about using Australasian banks; NZ banks are currently in the process of implementing AML and CTF transaction monitoring systems, Australian banks already use them.

    Triggers are set very low. For example a cash deposit or withdrawal over the counter of just $10k will trigger an alert for the teller to ask you for “Proof of funds”.

    All electronic transactions are monitored for patterns. eg:
    Single transaction of $10k+, or multiple smaller transactions amounting to $10k or more over a month. There are approx 20-40 patterns being monitored this side of the world currently.

    This is just the tip of the iceberg in terms of what banks are planning to do. Next few years will see the introduction of behavioral activity analysis, where your account will analyzed to recognize your regular personal financial behaviour… and of course anything unusual!

  • Lucas

    I don’t believe there is any ultimate safe haven.   There is  the ability to spread your assets across different jurisdictions and greatly reduce your overall risk.   Would you rather have one bullet in your clip or six?  If all you have is one, and you miss your target, you are as Simon says “hosed”.    I’m not spread across the globe yet but I am well diversified in metals, ammo, freeze dried foods and water purification systems.   I’ve stopped using credit cards years ago and pay cash for most everything.  I plan on getting out of here at the end of the year if Obama is elected again.   And here’s a tip for those of you with no money and a lot of credit.  I would cash advance those credit cards and use the money to invest in metals.  Don’t worry about paying the banks back and get out of the USA.

  • thistledust

    Whiners wake up! There are NO guarantees in life but death and some say taxes.  If you check out further information available through the likes of SB, International Living, Kathleen Peddicord, Sovereign Society, etc., you will learn about some pretty good alternatives to the BS we get to hear daily in the USA.  After all, how did you learn of SB? 

    There are places and ways of opening a bank account w/o having a great deal of $$, if any.  Saying prayers and biting nails will not save you.  YOU must take action. Don’t rely on the education you got in the public school arena. Use your heads! Do research. Read the Constitution.

    No one dislikes this situation more than I. My ancestors came here around 300 years ago to escape what we are now experiencing. How sad!  Now I am taking action to be able to live the remaining years in a better, less expensive and invasive fashion.  I figure I have at least another 20+ years of vigor!

  • http://twitter.com/Ubergrinch Übergrinch

    When push comes to shove, there is no escape in other countries. That is the entire point of globalization: A world where you have no choice but to submit to the system.

    • http://realfilling.com/ the99th

      Surely reality is more complex and nuanced than a giant, monolith crushing everything.

  • IcePyro

    Most of the other comments that I glanced through were, in essence, whining about not having cash to even send overseas. On this, I’d like to make two points:

    1. People ALWAYS find the money to get the things they really want. Drive through the worst trailer park you can find with the crappiest cars parked outside, and take a peek inside the windows of the homes: How many flat panel big screen TV’s do you see? More than you’d think just sitting here reading this on the interwebs.

    2. I made about $38,000 in 2010, and about $30,000 in 2011. As I type this, I have roughly $1,200 to my name, I own no property, no gold, no stocks, have about $4 left in my IRA. However, I spent 2 months living in Japan this last fall, and could have opened a Japanese bank account, if I wanted to. I have an Australian bank account with about $20 in it. I’ll be in Hong Kong later this year, and will be opening an account there with the smallest possible opening balance I can, and buying the single lowest value gold coin I can find, too, just to say I have one.

    In other words, I’m broke just like you are, but I still manage to get out of the country and have foreign bank accounts.

    This year, I will most likely make only $25,000, for the entire year. I will spend about $20k of that money overseas, and will be out of the U.S. for no less than 7 months this year.

    Here’s my point: If it’s *really* important to you, you’ll make it happen. If I can make it happen on my income, so can the rest of you, so quit your whining and make it happen. If you’re not making it happen, then it’s because it’s not, in reality, important enough to you.

    • Pal

      I could not agree with you more.  People have money for cable TV, new cars, etc but they say they can’t afford to save money offshore.   I turned off cable two years ago, my truck is paid for and is 13 years old, I only shop at the cheapest discount stores [except for food which I try to buy good stuff], I don’t buy anything in the way of junk or possessions with sole exception of maintaining a small collection of Notebook computers and internet access.    I have spent the last three years building up a new life in south america and in just three months more my ass is gone.  You can do what you want or you can whine about it. My business investments in south american have an ROI three times what I thought was possible… in the 3rd world cash is always king.

    • http://pulse.yahoo.com/_XO7YATMSMR53NCZSAG4KAI5ZFY Jon

      Bah…tough talk meant to “motivate” people, eh?

      Calling people whiners just makes you sound like a condescending jack@ss.  These are serious concerns and issues people are sharing.

      Fair enough you live out of the country but your $20 in the Australian bank account ain’t gonna buy you much in an economic collapse, buddy.  You might as well hide that in your sock drawer.

      And you’re going to buy the smallest gold coin you can find just to say you have one?  Who are you trying to impress?  The point of holding gold is to preserve your wealth.  You gotta have some wealth to preserve in the first place though.

      The reality is this.  Most people ARE NOT going scrimp and save every nickel and penny so they can deposit some measly amount in a foreign bank account.

      If your US funds are taken over by the US government, you’re going to need a hell of lot more than that in a foreign bank account to survive.

      • IcePyro


        You missed the entire point of what I wrote. To place it in context, go back and read every comment below mine.

        Many people on here are complaining that they don’t have the financial resources to perform the act in question: Open a foreign bank account. Regardless of why they want to or what they believe will happen to the U.S., the singular point of wanting to open a foreign bank account is daunting to people.

        My entire point was that it’s not that hard, and you don’t NEED wealth to open a foreign bank account.

        Re: your gold comment. I personally place very little value on precious metals. It’s not my “thing”, and was not my thing even years ago when I had any wealth worth preserving. Possessing a gold coin from Hong Kong would merely be a tourist thing for me — just to say I had one, nothing else.

        You say people are sharing “serious concerns”. The entire point of my post was to demonstrate that, in actuality, the concerns people were expressing are actually quite minuscule. Again, read people’s actual comments: They are commenting about being broke. My point was that I’m traveling, enjoying whatever time overseas that I can, and I do it while earning less of an income than these people do. Thus, I see no reason for them to be complaining about not being able to leave the U.S., and not being able to have a foreign bank account, which are the two specific things they’re complaining about. At no time did I say anything about the larger issues affecting the U.S. or the world.

      • Gene

        100% right on target! Just about all limitations are self-imposed.

      • MARS

        yea everyone should just do whatever they want to right. Fuck the Gov. and according to you fuck god too right? If limitiations are self imposed, then the only thing stopping me from murdering you and TAKING your money is my own non-action? I say my belief is what keeps me from indulging myself in in evil acts (such as murdering a big mouthed asshole and taking his wealth along with his life). People without faith feel unaccountable to anyone but themselves, all is fair if it brings a win fall for them. That is the reason we have a 1% 99% split in the USA. Greed and lust for power over and seperation from “commoners” or “the masses” thats what drives the split. If more people subscribed to religion and felt guilty watching their neighbors starve while they travel the world and eat caviar then USA would be a better place. Furthermore I agree with a woman who posted earlier. Time for talk is over, Time for WAR is now. Last thing I have to say is this, You encourage people to expatriate from my country instead of fighting for it so after the revolution 2.0 your sorry ass better not try and come back! You want to abandon USA and tell others to do it then dont try to come back here when those of us with the  real BALLS take back what is ours! 

    • $10039200

      You can’t open an account in Hong Kong without a Hong Kong residential address. They will demand a utility bill with your name on it.

  • Erick Tippett1

    You know, the american mind is a real funny thing as it
    exists today and always really has. The voting public and citizenry at large think they are living in a ‘democracy’
    yet the word does not appear in the constitution. They
    see the government’s ever increasing ‘vigilance as security against terrorism and are willing to sacrifice privacy rights 
    for protection dues against all enemies. They protest taxes and occupy wallstreet yet most probably are  ignorant
    of two tax revolts that occurred (Shay’s in 1787 and the ‘Whiskey Tax’ Rebellion of 1791-94) in which Washington
    himself came out of the white house, donned full military
    dress and as commander in chief led 13,500 troops to
    smash that ‘rebellion’!  They claim they want their country
    back, yet the poor fools don’t realize they can never get
    back what they never had in the first place! And the sad
    story goes on and on and on aided and abbetted by the
    majority american minds lobotomized, stultified, and stupified with lying fairy tales.  No doubt Adolph Hitler
    was quite correct when he commented “how wonderful
    it is for governments that people don’t think!”  This
    public with the exception of maybe, maybe ten percent
    has and will recieve from this monstrous manipulative
    machine of a government just exactly what they have
    been tolerating all these years, which is exactly what
    they deserve!

    Erick Tippett
    Chicago, Illinois 


  • http://realfilling.com/ the99th

    One of my NYRs is to sort out where my deposits are. Like many here, I made a low five-figure income and ended the year with less than $2000 in savings. I happen to be coming into some decent earnings where I can save about $5k and will be opening up and Everbank account ($1500 minimum) and a BROU account (Uruguayan equivalent of BoA, one might say, arguably safer, $500 minimum to open a checking account). 

    Everbank I can do this month and BROU I’ll probably get to in March or so, when I’m next in Uruguay. I’m also getting my birth certificate ordered and stamped so I can get residency there. 

  • wsb

    But doesn’t a foreign bank account have to coincide with second citizenship or revoking your US citizenship if you want to be legally outside the reach of the US gov’t.?

    Those funds in foriegn accounts may not be under the US jurisdiction, but US citizens certainly are….

    Your response?

    • Paladino444

      the answer to your first question is ‘NO’ even under the current laws you are entirely within the law the open and operated financial accounts outside the USA.  You are required to register financial accounts in aggregate value of $10K.  Otherwise, you can do as you please. 

      • Gene

        Don’t bother. The guy obviously has no desire to feed himself.

    • Gene

      There’s this thing called Google…it’s pretty cool.

  • Roy G.Smith

    Nothing surprises me any more, the big brother syndrome in the USA is quite quickly taking hold of everything from what we eat, to health care and removing the freedoms of individuals to choose. Thank God I am Canadian and live in Canada but I worry that those dictatorial  methods are being installed here in Canada without our knowledge. All I foresee is a terrible bloody revolution as soon as people get desperate to eat and live freely without a massive load of rules and regulations.  But then one of the aims of the Illuminati is to reduce the human population significantly.  somewhere deep in northern Ontario beside a long fish filled lake with no roads is where I shall live out my days..living off the land and the water or in sunny Albania an interdependent and proud country that is poised to leap forward in its infrastructure.

    • South of the Boarder Expat

      The 99.8% of the citizens will not fight back!  People that have been drugged for years on Ritalin and the food-chain and programmed by TV and video games do not have the focus or energy to fight back.

    • $16562428

      Unfortunately, whatever the US does, Canada follows. The Great White North won’t save you.

  • Noway

    I haven’t had a bank account for over 6 years and was initially mocked by my economics professors just before the housing bubble burst as I pointed out the true nature of the monetary systems. Currently I have sustained myself with a little bit of the quasi-black market of cannabis production in California, but I haven’t made as much money as some people have. I do not feel safe in this country and have been arrested for exercising free speech and other BS. I am one of the .2% and I want to leave before the effects of bills such as NDAA become realized more blatantly.

    • HhbarhHarry

      So,  HOOK-um to what ever country you choose

  • Tedcgo

    So, who the hell is going to read AND investigate all of these reports?  The government?  Are they going to hire 30,000 new employees to do this?  It’s like: the greatest fool can ask more than the wisest man can answer!

    • Nitrider_ninja

      The way it works it that they will investigate anyone who they do not like. Everyone is a criminal by law. So who do they prosecute? Simple, the one’s they do not like. You have a beautiful wife someone in govt. is in love with? Simple, he get’s you imprisoned or threatens her with your imprisonment if she does not leave you. The possibilities are endless. Think it does not happen? Come to India. I’ll show you. 30 years back I’d take you to the Communist bloc to show you this. Think it can’t happen in the US? Hahahahahahahah

  • Dick

    For sure I am part of the percentage that know what is going on but I am not in a position to travel like you for even part of a day. I am a 24/7 caregiver and cannot leave to open an account in another country.  I have ten thousand in savings, a reasonable amount of silver and about ten ounces of gold.  My hobby ranch is totally paid for and I have no loans or mortgages of any kind.  So, Simon, how does one start – what country do you open a minimal account in first from your experience and what are the second and third choices.  How does one get physical gold and silver to another country for safe keeping and where do you recommend storing it?  

  • Peter

     Why don’t I have an overseas bank account.

    I created a Panama foundation back in June or July, can’t remember which, and made applications for bank accounts at a bank in Panama and one in Singapore. After four months of communication, the Singapore bank have just rejected my application, though they have referred me to their private banking division. The Panama bank are still asking questions. How long can it take?


  • Alain Fleury

    To all asking how to start with a foreign bank account.

    1:Try to find an HSBC bank near your location.
    2:open an account with them an put a couples thousand $
       in it and and try have a bit of activity in the account for 
       a couple of months (4)
    3:After this period, go back and ask them to open an 
       account for you troughout their international 
       department for either hong kong or singapore.
       they will charge you 200$ for this and ask you why you     
       need the account (ex: you want to do business in …
       whatever) and “Voila”.
       You will be all set within a week.
       they can have all the papers and atm card sent directly
       to you or you can drop by at the location you choose
    Hope this help
       excuse my poor english, would have been much easier in french :))

    • Option917

      Bravo, Alain! What poor English? No, it was really, really GOOD. 

    • Pal

      Nice job Alain; your English was perfect.

    • $16562428

      He speaks better english than most americans

  • http://www.notanotheraveragejoe.com/ Another Joe

    I don’t yet understand how to set one up. Not that I could put much in it anyway, but I’d like to get it started.

  • Hiday_happy

    i read your message everyday,im giving you attention 100%.

  • Griffinclg

    My question is – why are we running?  What happened to standing and fighting?  And no, I don’t believe it will happen with peace and votes.  I’m a 55 year old female business owner, fed up with being taxed for producing jobs, punished with taxes if I fire a poor employee for any reason, even if they steal from me, punished by the IRS because I reverse two numbers that results in them getting $200 less in taxes than they “should have” on one of the complicated forms, hence, I get penalized for an additional $600 in penalties and interest for a human error, plus the many, many, MANY hours (I bill at $200/hour – out of which I pay 5 other employees so I can do my job) I had to put in to find the original paperwork, and on and on and on. 

    I’m fed up.  We don’t even live in a democracy.  We live under tyranny of government.  There is no republic, no democracy, no vote that truly means anything.  If you think so, work ballot security (HA!) at an election just once!  Boxes of votes are thrown in dumpsters, rivers, alongside the road and never counted.  Or, in one case, they are driven 3 or 4 times around the 610 loop in Houston while whoever is in the car changed votes – this was even before computer voting machines when they were all supposedly hand tabulated.

    Freedom takes blood, sweat, tears and WILL to create,  and governments have never been about freedom except at their very beginnings.

    I could open a foreign account, but if my accounts are arbitrarily frozen, I can’t pay my bills in the USA that keep my business running.  What have I gained?  There is nowhere left that the computer systems and such don’t exist, or won’t soon enough. 

    I place my faith in God, and in my own toil, with His blessing.  And when it goes too far, I’m ready to stand and fight.  And it’s definitely going that far already.

    Freedom comes from God.  Man screws it up.  Seems like there is a pattern here…

    • nightlight

      Neither freedom nor anything else comes from God: God is a myth – just like Zeus, Odin, Santa Claus, the Tooth Fairy, and the Boogie Man. Freedom comes from people who are willing to stand up and fight for it. Our country is being run by a bunch of  criminals; most of those in our Congress, our Senate, and the current administration (including of course Obama) are guilty of impeachable offenses at least and treason at worst. When are we going to arrest them and bring them to justice? Why are the 330 million of this country letting the people in one small town destroy our country and way of life?

      • Kelvin

        Your existence and the fact you are even here is a direct result of God… of course your free to your unbelief as I am to my belief…
        Professing to be wise, they became fools.” (Romans 1:22 

      • Gene

        LOL of ALL the things you quote, you choose the ROMANS! LOL

      • Merlinever

        Interesting that you chose a work of fiction to quote to support your argument. Good luck with that.

      • Gene

        ^Exactly right. The origins and motivations for the christian religion are well-documented for those who wish to live free of this stuff. Christianity was designed by kings to keep the rabble on their knees.

    • ddarnell@wcoil.com

      I like your comments and think you are spot on . It is indeed time to organize and fight back against a tyranical gvt.

    • Mr. Verdi

      boy …do I understand your pain lady. My plan…the only one tested thru time. Place as little as possible federal reserve notes into any bank acct., then get physical and keep it that way. Like in silver esp. the juink silver. Since its already denominated with a face value, you can/should be able to take it where ever you go accross country borders. You say ” hey, whats the problem, I rolled up all my spare change and took it with me. Whats the big deal”? Otherwise, apply for food stamps and entitlements. Its what they want you to do anyhow(the bastards).

    • Dlewharper

      You hit the nail on the head.  I was fined $3,800 by the IRS because I had “failed to update my Simple Plan.”  The correct form was in the file, but unsigned (there was no “upside” to not signing it; it was merely an oversight).  Does that seem to youj to rise to the level of a $3,800 offense?

    • World Source

      Why fight when you can make money ELSEWHERE. Go withthe trends instead of fighting them..that’s stupid.

      • Gene

        One can still make money in the US while not being in the US.

    • South of the Border Expat

      You can fight all that you want.  I see you are from Texas, home of the Alamo.  In those days, the playing field was more level.  Now if you bring out your .45 or whatever you use, you are going against 50 calibers mounted on Hummers, even larger stuff mounted on Apache’s, etc.  Do not think for one moment that you can stand up and fight – that thought is just insane.

      • Libertatis

        Tell the Afghans about the futility of fighting our “invincible” military machine.

        They are few. We are many. Asymmetrical warfare, combined with the deplorable history of occupation, and the impossibility of an army successfully occupying its own country…

        It is NOT futile to fight back. That’s a defeatist attitude; you’ve died already, one of the thousand deaths of a coward. The brave die only once.

    • Merlinever

      Nothing comes from God because God doesn’t exist; God is just a myth – something someone made up a long time ago. God is no more real than Zeus, Odhin, Allah, Santa Claus, the Tooth Fairy, or the Boogie Man.
      Freedom is the reward of those who have the will to excercise constant vigilance and the presence of mind to take meaningful action against those who would deprive them of it.

  • Nitrider_ninja

    So you guys think I should not pursue the U.S Green card?

    • South of the Border Expat

      No way . . . that is like jumping from the frying pan into the fire.  A U.S. Green card means worldwide taxation which you probably do not have now if you life outside of the U.S. or Costa Rica.

    • Gene

      Depends are where you are coming from, but generally I’d say don’t bother.

  • JAY

    Please pardon my newbie post- Can $10K surveillance limit be escaped by having entities such as 401K, C/S/LLc, Trusts, etc established? , and limit each to $8K or so, or do the PTB count anything that can be TRACED to you vs anything in YOUR OWN name??? Just a thought. Also, my only big asset is IRA @ TD Ameritrade. Since TDominion is Canadian, is any easy Canada relocation possible, or are corp.s separated though same owners? HSBC idea posted below sounds promising?


    This seems like a funny article. You can open accounts, but your have to fill out a FBAR. Seems counter-productive. You’ve just enabled FinCen to map the path of your money. And as far as my comment…I’m not even sure why I bother, since there’s been over 50…and it seems like Simon just likes to hear himself ramble instead of anwering any of these comments/questions.

    • Gene

      Your “common questions” can NOT be answered in a public forum such as this. It helps nobody but the feds. I guarantee you that IRS scumbags read this blog. It would be stupid to reveal how we do what we do, especially since 99% of the people who ask such questions are just wanna-be’s with no huevos.

  • $10039200

    The 100% increase in FBAR filings comes not from more Americans opening overseas accounts, but from the recent IRS crackdown and amnesty on filing this form. Many thousands of Americans, particularly those working and living overseas, were unaware of the necessity of filing this form.

  • Bszalay

    Why not expatriate? MONEY. Thanks for getting me psyched & then dropping me.  But is there hope for Canada? Can I get a 2nd passport there?  Can I visit someplace & get married & expat?. I lost my concentration after those # for 2nd passports.

  • http://www.facebook.com/people/Joseph-Huntington/100003193914141 Joseph Huntington

    Having ANY account in a bank is insane. Using a real name ANYwhere is insane. Telling your actual means of living to ANYone is insane. Static (digital fog) is the sole refuge for intelligent belliger – I mean – citizens.

    • Gene

      Don’t be this simplistic. NOT having a US bank could make you stand out, depending on lifestyle. the point is to blend in and don’t do “unusual” things. Banks can act as camouflage. No more details to be given.

  • http://eisbrener.info/blog Michael Eisbrener

    In my first 3 years living outside CONUS two of my US bank accounts were closed for ‘unusual activity’ and they refused to negotiate in any way.  I was wrong and they would not tell me what it was that was unusual and they required I appear in person to give me my money!    Fortunately I had placed with their permission a back door access to my accounts.  I immediately moved the money using the approved installed back door to another country, zeroed out the accounts, closing them, which incurred the wrath of a few people.   The back door has since been put out of business because I am sure I wasn’t the only person who had used it to keep access.  I am glad I took the time to get it organized before now.

  • Amanda

    I was at the February seminar.  I gathered information to open a Singapore bank account. I acted on it, and still haven’t opened one.  HBSC asked that I open an acct in the US first.  I had to go to a branch, which meant a flight, etc.  Got all the correct stamps, and sent off the paperwork.  That was 2 months ago.  I am in contact with Shannon who is the personal acct person, who won’t return my emails.  Faizal is the business acct person, and says I must go to Singapore to open a business acct (which is what I would like).  It’s a stalemate.  Has anyone else had this (non) service?
    I would prefer to open the acct in Singapore, but may have to look at the next easy option.

    • Rob

      You need to open a bank account with a bank that has NO branch offices in the US of A. (!!!)

      • Gene

        Exactly right! I’m sure this is one of those mistakes that people opening accounts in HK make…lots of banks like Citi there…that you don’t want.

  • Bkl1

    1. If you have to fill out a FBAR on your account What stops them from grabbing it since they know where it is.     2. Will a Perth Mint Certificate work? 

    • $16562428

      You have to submit a FBAR for Perth Certificates also.

  • Hiday_happy

    simon you are cool,plez take care of our child

  • Guest744545

    Look, you have to make a lot of money before you can become an expat
    like Simon. To have the same quality of life in the 3rd world costs
    almost as much, I’ve done it. And these places are not more free than
    the US. They are if you have a lot of money bc money is the law there.
    Most workers in these countries would give up everything to get to the
    USA. And if you really think you are better off someplace else you are
    full of it. If the US gov collapses, its the other places that will be
    phucked since they get money from the US and US gov. We have plenty of business
    here that can carry on without the federal gov.  Its the other countries
    that will be a mess. Then Simon and his gang will come back to the US
    and pitch another product. Some info Simon offers is good but he’s selling a product. There is a bias. 

    • Gene

      I disagree with just about all of this post.

    • Pal

      I mean no disrespect nor intend to argue; but your comments are simple drivel.  You make a lot of wide claims with nothing to support them.   For instance. “Most workers in these countries would give up everything to get to the USA.”   … that statement is not based in fact.  How many Panamanians to you meet in the USA? Costa Ricans? Brazilians? … I could go on.  If you want to make statements; try to be useful to the forum rather than just negative.

  • Brian

    What stops me?  Lack of money.  My $804.00  a month income barely covers my monthly outgo, let alone have  enough money to invest anywhere in anything.

    • Gene

      Then you have nothing to lose by leaving.

  • Paavo Siitam

    Bought a package of huge, beautiful blueberries from one of the gigantic superstores so common in southern Ontario, Canada.  The berries had grown in  C H I L E . . .  maybe    Simon’s estancia.  Then had a bowlful.   What a delicious, healthy treat.

  • K in AC

    If I open an $8,000 bank account in Canada, what do I have to report to the IRS and what forms do I have to use?  Thank you.

    • Gene

      no reporting if that is your only foreign account.

  • Gunrights4us

    Why use banks at all?  Get out of “paper” assets and into tangibles.  For the bills – use money orders. 

    • Lahahr

      What is the transaction cost of using Money Orders?

      • Gene

        Charge is based on face value of the MO. The max value is also capped at a relatively small amount. Not useful for moving size.

  • Hiday_happy

    oh i see,i want to move on to since i was at school but my mother didnt give me to go,my mother want im friend with them and married them,oh thats so stupid,im just listen to my mother advice actually i dont want because i already had child,and i want to married simon black

  • Ngage

    I wouldn’t even consider banks in South – Central America for the reason of them being structured under weak and corrupt governments waiting for the right bribe to rat you in.
    Try Russian Banks instead – less risk, IRS proof and plenty of options. 

  • ngage

    Don’t use banks period. There’s a need for bank account elsewhere, except in case of large transfer. I’d say a gold bling-bling around your neck is a better way to transfer money and leave no paper trail. 

    • Gene

      It’s fine to leave a paper trail as long its a trail that you are intentionally creating.

  • rajah

    Well, I’m paying attention. I understand what’s happening. I know what’s coming. What’s holding me back? Money, or rather the lack of it. There is a song which has the lyric, “Someone told us Wall St. fell, but we were so poor we couldn’t tell.” Nah, I’m not going to get excited about moving or trying to save myself. Instead, I’m going to live my life trying to become a better person and doing the best I can to help my fellow man. I think God will honor that.

  • Hiday_happy

    hey ngage,this is great if u married simon black all your problem about money will be settle and you will be rich too

  • Malo

    there are a lot of us out here that would love to have a foreign account, but it’s the amount of money that one has to have to open one. if you know of a option country that caters to people like me, please let me know. i’m talking about amounts as small as $500.00. there are a lot of us out here that need this type of help.

    • Gene

      $500 is plenty for opening a foreign bank account.

  • Sarsoun

    The Federal Reserve Note is not a dollar. The dollar is a silver coin, Coinage Act of 1792. A note is evidence of debt and unless the note can be converted (redeemed) for money (coined gold and/or silver), it is bogus, illegal, fraudulent, and unConstitutional. Since 1965, FRNs have not been redeemable, and hence are no money. There is no large national debt, indeed there is no money inthe U.S.

    • Gene

      Hopefully all of us are well-past this discussion. There are “stores of wealth”, and there are “mediums of exchange”. These two are not the same, although countries wish their populations to believe they are the same….all of the other games of money spawn from this.

      • Becky Bilokur Tobias

        exactly; buy gold or silver in hand to keep as a in house backup and pay off all debt; own land outright and am working on a bank & property outside of US current socialist agenda reach

  • Janr1955

    Holding me back from What?  Just what is it you think I can do about it?  You see for yourself while they completely engulf you with one criterion they are nefariously  doing another?

  • http://www.facebook.com/people/Carolyn-Morgan-Bell/1356671053 Carolyn Morgan Bell

    Timely article with great information.

    This year, we “planted a banking flag”, chiefly with Jyske Global Asset Management. We also hold an account in Uruguay, where we have a farming operations and farmland appreciation syndication investment. We investigated Panama also, but feel safest with monies in Denmark and Uruguay.

  • Becky Bilokur Tobias

    Obama started it, Socialism.  Czars running things; what DO you think that he is thinking about hmm;  It was shut down but just like the Nazi’s he had a “if you see something suspicious” report it to the White house…

  • Becky Bilokur Tobias

    Vote Ron Paul; if you truly want a “change”

  • Hiday_happy

    hey cannot you just shut up..my english is bad but no matter i will always sent comment and dont want to hear from u

  • Hiday_happy

    i dont want to go,i am soldier of israel,i want to go to us then whashington then jureslalem to stand with israel,anybody want to follow me?

  • MARS

    This guy is a COWARD! he is telling you to do just like Wall St. and that is this. Forget God he dosnt exist, screw your neighbors if they are suffering then they deserved it, and lastly take your money and run away like a coward instead of fighting the hard fight. Its no wonder to me that the author damns religion, he has no soul or character to speak of!

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